Gigamedia Ltd (GIGM) Swings to Q4 Profit

Gigamedia Ltd (NASDAQ: GIGM) reported Q4 EPS of $0.10, versus ($0.09) reported last year. Revenue for the quarter came in at $2.66 million, versus $0 reported last year.

Management believes that the year of 2014 was the downturn of the Company's restructuring as the cloud computing business just started to take off, the new games continued to release on the market in late December 2014 and both collaborated and in-house developed games are ready for marketing, and same as the casino game platform. Besides, compared with the third quarter of 2014, the Company's financial position continues to increase due to the gain on disposal of partial marketable securities in the fourth quarter.

Looking forward, the Company expects to expand the South East Asian market for more market presence for its online game business, and its cloud computing business plans to penetrate further the Taiwanese SME customers. As regards the casino game platform, the Company hopes to leverage on partnership with overseas operators in order to generate more earnings.

Management is confident of the prospects in 2015 and is certain that the Company will be able to benefit from the efforts made in 2014.

For earnings history and earnings-related data on Gigamedia Ltd (GIGM) click here.

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